Investing in Post Office savings schemes is one of the safest and most reliable ways to grow your money. But did you know that with the right plan, you can earn ₹2 lakh just from interest? In this article, we’ll break down the best Post Office investment schemes that offer high returns, security, and tax benefits.
Post Office Best Scheme
| Feature | Details |
|---|---|
| Best Post Office Scheme | Post Office Time Deposit (TD), Monthly Income Scheme (MIS), National Savings Certificate (NSC) |
| Interest Rate | Up to 7.5% per annum (as of 2024) |
| Investment Required to Earn ₹2 Lakh Interest | Approx. ₹5-6 lakh depending on tenure |
| Tax Benefits | 5-year Time Deposit & NSC eligible for Section 80C tax deductions |
| Official Website | India Post Official |
If you’re looking for a safe, high-return investment, Post Office schemes are one of the best options. Whether it’s the Time Deposit, Monthly Income Scheme, or NSC, you can easily earn ₹2 lakh in interest with the right investment plan.
Why Choose Post Office Investment Schemes?
Post Office schemes are backed by the Government of India, making them among the safest investment options available. Unlike mutual funds or stocks, these investments offer guaranteed returns and are not affected by market fluctuations.
Key Benefits of Post Office Schemes:
- High Interest Rates compared to regular savings accounts.
- 100% Security as they are government-backed.
- Tax Savings under Section 80C for selected schemes.
- Easy Access with nationwide availability.
Now, let’s explore the best schemes that can help you earn ₹2 lakh in interest alone.
see also: How to Register for Bank of Baroda Net Banking from Home
1. Post Office Time Deposit (TD) Scheme
The Post Office Time Deposit (TD) works like a fixed deposit (FD) and offers attractive interest rates. The longer the tenure, the higher the interest.
Current Interest Rates (2024):
| Tenure | Interest Rate |
|---|---|
| 1 year | 6.9% per annum |
| 2 years | 7.0% per annum |
| 3 years | 7.1% per annum |
| 5 years | 7.5% per annum (tax-saving) |
How to Earn ₹2 Lakh?
- If you invest ₹5,00,000 for 5 years at 7.5% interest, you will earn: ₹5,00,000 × 7.5% × 5 years = ₹1,87,500
- To reach ₹2 lakh, you need to invest around ₹5.5 lakh – ₹6 lakh.
Best For:
- People looking for a fixed and safe return.
- Those who want tax savings under Section 80C.
2. Post Office Monthly Income Scheme (MIS)
The Post Office Monthly Income Scheme (MIS) is perfect for those who want a steady monthly income.
Key Features:
- Interest Rate: 7.4% per annum (as of 2024)
- Maximum Investment: ₹9 lakh (individuals), ₹15 lakh (joint account)
- Monthly Payout: Earn interest every month
- Lock-in Period: 5 years
How to Earn ₹2 Lakh?
- If you invest ₹6 lakh, you earn ₹3,700 per month.
- In 4.5 years, you will have earned ₹2 lakh in interest.
3. National Savings Certificate (NSC)
The National Savings Certificate (NSC) is another great option, offering a fixed return with tax benefits.
Key Features:
- Interest Rate: 7.7% per annum (compounded annually)
- Tenure: 5 years
- Minimum Investment: ₹1,000 (no maximum limit)
- Tax Savings under Section 80C
How to Earn ₹2 Lakh?
- Invest ₹6 lakh in NSC at 7.7% for 5 years.
- Your interest will be ₹2.2 lakh (compounded) after maturity.
see also: Last Chance to Get High Interest on Fixed Deposits – Secure Your Future Now
Post Office Best Scheme FAQs
1. Which Post Office scheme gives the highest interest?
The National Savings Certificate (NSC) at 7.7% offers the highest fixed return as of 2024.
2. Can I withdraw my money early?
Yes, but premature withdrawal comes with penalties, except in certain cases like the depositor’s death.
3. Are Post Office schemes better than bank FDs?
Yes, they offer higher interest rates and better security, but bank FDs may provide more flexibility.
4. Is the interest earned taxable?
Yes, interest earned is taxable, but NSC and TD (5 years) qualify for Section 80C deductions.
